Run ticket definition
/What is a Run Ticket?
A run ticket documents the amount of oil delivered to a purchaser. It is prepared at the point of delivery by the purchaser or the representative of a transport company, and states the amount of oil removed from a stock tank. The ticket is used as both a receipt and proof of delivery, and so serves as a crucial control over the oil delivery process.
The beginning and ending depth measurements for a tank are netted and multiplied by the unique volume characteristics of the tank to arrive at the number of barrels of oil removed from it. The price stated on the run ticket may be based on a contract price, or the current market price for the region in which the oil was produced. In either case, the price is based on the measured quality level for the crude that has been delivered. The information stated on the run ticket is the source document for the recordation of revenue by the producer.
If a run ticket is completed manually, it is usually filled out in triplicate.
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Contents of a Run Ticket
The key information on a run ticket includes the following:
Unique identifying ticket number
Lease number
Well number
Tank identification
Beginning and ending depth measurements
Number of barrels measured
API gravity and temperature
Proportion of basic sediments and water
True gravity, which is calculated from the observed gravity of the oil and its temperature
Calculated price to be paid, based on the preceding information
Date and time
Signatures of witnesses
Example of a Run Ticket
An example layout for a crude oil run ticket is noted below.
Run Ticket
Ticket No.: 12345
Date: 2024-11-23
Time: 08:30 AM
Buyer Information
Company Name: Sunrise Energy Inc.
Address: 123 Energy Drive, Houston, TX, 77002
Contact Person: John Doe
Seller Information
Company Name: Green Valley Oil Co.
Address: 456 Pipeline Blvd, Midland, TX, 79701
Contact Person: Jane Smith
Product Details
Product Type: Crude Oil
API Gravity: 34.6 °API
Temperature: 85°F
Tank Details
Tank No.: T-12
Gauge Height Before Transfer: 12 ft 8 in
Gauge Height After Transfer: 4 ft 6 in
Gross Volume: 10,250 barrels
Net Volume (adjusted for temperature): 10,200 barrels
Delivery Details
Transporter Name: Gulf Transport LLC
Truck/Trailer No.: TR-8934
Seal Number: 567890
Meter Information
Meter Reading Start: 234,560
Meter Reading End: 244,760
Total Metered Volume: 10,200 barrels
Comments/Notes
Product sample taken for testing; sealed sample #A7891.